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Ben Walther
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$NOT
— Be careful.
You might want to check this analysis before getting in. 👇
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polaris_xbt
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Bearish
$NOT
I wouldn't touch this unless it reclaims the range.
No reclaim = slow death
#Notcoin👀🔥 #NOT🔥🔥🔥 #altcoins #TopCoinsJune2024
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Ben Walther
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Who wants to see the latest RSI update, implications on the market, and an updated prediction? Let me know 👇 #Market_Update
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3 Reasons Why Bitcoin Will Bounce At The Current Level 🚀 $BTC has been in a moderate downtrend for the last few days. During that time, the crypto sentiment changed massively. Social media is jam-packed with doom posts forecasting a massive dump. While there's a chance to see lower levels, the opposite is much more likely. Here are three data-based reasons why: 1️⃣ The upper boundary of the bull flag (see chart below) has served as a proper support line. Just two days ago, Bitcoin bounced again at that support. Additionally, we have an even stronger support line sitting at ~62.5. Therefore, even if the bull flag support breaks, you can expect a bounce from the support below. 2️⃣ The overall market is super oversold and ready for a turnaround. You can see that in many of my previous posts. The entire altcoin market is extremely oversold. Consequently, a bounce is getting more likely every day. 3️⃣ Volume has been constantly decreasing BTC trade volume has been constantly decreasing during its downtrend. This can be interpreted as fading sell pressure that is likely to result in a massive volume spike. One word of caution: A break of the 62k level invalidates the above arguments and signals a bearish continuation. -- Visit Crypto for more trade strategies. Details are in my Twitter bio. $BTC #tradesafely
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BAKE Prints Bullish Crossover — 36% Potential + Solid Backtest Results! BakeryToken flashed a bullish MACD crossover on the daily chart. Based on backtests, the signal provides a solid win rate of more than 90% for 2% and 5% gains. Even for 10% gains, the win rate is more than 82%. Additionally, the trend indicators are entirely bullish across all timeframes. Momentum indicators are neutral, which further backs the bullish setup. Summarized, indicators signal a super interesting scenario for an entry. -- Visit Crypto OS for more trade strategies. Details are in my Twitter bio. $BAKE #TradeSignal
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Crypto Market Remains in a Stable Downtrend — When Bounce? The situation has been the same for the last few days based on trade signals. We have an extremely oversold market and incredible short signals on the daily chart (see screenshot below as an example). However, as already discussed, most short signals (parabolic trader) usually indicate the last wave of a trend and signal an upcoming reversal. So far, none of the scenarios have played out well: neither the short signals (at least for most coins) nor a turnaround has occurred. As a result, I remain cautious about taking trades on the daily chart since the overall direction remains unclear. It's simply a waiting game — however, in this situation, the best trade is not to trade. #Market_Update
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Crypto Market RSI At New Low — Crash or Bounce? The average crypto market RSI, which measures more than 200 tokens, has reached a new low. Moreover, it broke through a major support line for the first time in two years. Personally, I didn't expect this and was convinced to see a bounce from the support line. However, based on the data, a turnaround will likely occur during the next few days. Although we broke the support line, I don't expect the market to go much lower. What are your thoughts? #Market_Update
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